snotneus,
Actually, I think sslut is referring to NCA....the New Credit Act. FICA is legislation that applies to financial entities to prevent money laundering(you know those pesky utility bills proving your address that you have to give to every tom, dick and harry). I think sslut is getting at the fact that you could use the NCA to escape your liabilities, as it places certain repsonsibilities on the lender which could result in them not being able to enforce their rights if they have slipped up.
I don't agree with this point of view as the NCA would then effectively kill off all ability to contract by any parties if this were to be the case. One needs to be sure to differentiate between a loan and a financial obligation that arises as a result of contract......both are forms of contract but a loan is a specific type. I don't think a bond would be covered by the NCA.......you can go argue it in court, but I certainly wouldn't spend a R100k to back such a flimsy argument.